In a strategic business move, 2 Sisters Food Group and PD Hook have completed the sale of their joint venture, Hook2Sisters, to the Boparan Private Office (BPO).
Founded in 2006 with equal ownership, Hook2Sisters has now been fully acquired by Ranjit Singh Boparan, known for popularizing ‘Chicken King’. Importantly, 2 Sisters Food Group remains under the ownership of the Boparan family.
The company oversees more than 170 farms across the UK, employing approximately 1,000 individuals. Notably, Hook2Sisters reported impressive sales of £964.2m ($1.31bn) and a profit before tax of £786,000 for the year ending July 2024.
This transaction enables both companies to transfer their shares in Hook2Sisters to the newly formed 2 Agriculture Holdings Ltd, a part of BPO.
All employees at the breeding and rearing sites, along with hatcheries, will transition to 2 Agriculture Breeding Ltd. Importantly, there will be no changes to their existing employment terms and conditions, as stated by 2 Sisters in their deal announcement.
Ranjit Singh Boparan characterized the acquisition as a “significant transaction” that aims to “establish a fully integrated agricultural supply chain that enhances quality and welfare standards for the sector”.
Although the value of the deal remains undisclosed, a spokesperson for 2 Sisters Food Group indicated it would be “at least £1m”.
The spokesperson elaborated: “The joint venture didn’t have an ultimate controlling party and Ranjit Singh was very keen on going from a 50/50 partnership to a full ownership model.”
“He has control over all those farms and, in addition, even bought some breeding farms and hatcheries from PD Hook. He has full control of the supply chain now.”tion.
